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16-Jan2018

Glenmark Pharma trades higher on the bourses

Glenmark Pharmaceuticals is currently trading at Rs. 624.05, up by 1.00 points or 0.16% from its previous closing of Rs. 623.05 on the BSE.

The scrip opened at Rs. 625.20 and has touched a high and low of Rs. 630.95 and Rs. 624.00 respectively. So far 22854 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 973.10 on 07-Feb-2017 and a 52 week low of Rs. 528.00 on 18-Dec-2017.

Last one week high and low of the scrip stood at Rs. 642.00 and Rs. 600.30 respectively. The current market cap of the company is Rs. 17624.02 crore.

The promoters holding in the company stood at 46.53%, while institutions and non-institutions held 38.56% and 14.92% respectively.

Glenmark Pharmaceuticals has been granted permission by the Directorate General of Health Services, Central Drugs Standard Control Organization (CDSCO), Government of India, to conduct a Phase IIb dose range finding study to evaluate safety and efficacy of GRC 27864 in patients with moderate osteoarthritic pain.

GRC 27864 is a potent, selective, and orally bioavailable inhibitor of microsomal prostaglandin E synthase-1 (mPGES-1), a novel therapeutic target in pain management, which is up-regulated under inflammatory conditions.

The Phase II study is planned in India in 624 patients of osteoarthritis of the knee and hip to evaluate safety, efficacy and; biomarkers to characterize novel mechanism differentiated from existing NSAID's and selective COX-2 inhibitors. Primary objective of the study is to evaluate safety and tolerability of GRC 27864 given orally at daily doses of 10 mg, 25 mg and 75 mg for 12 weeks compared to placebo, in patients with moderate osteoarthritic pain.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).


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